This article provides an overview of the ITIL process Financial Management.
Financial management for IT services fits into an organisation’s financial management. It covers the budgeting, accounting and charging for IT services. The purpose of this process to ensure that there is enough funding to deliver the IT services that meet the organisations existing and future needs. It also ensures that there is value for money, with cost and quality being measured.
Budgeting and accounting methods will usually fit into an organisation’s existing processes. A charging methodology is something that will need to be considered. There are different options – going rate, market price, fixed price and differential charging.
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